Banks are not doing a lot of lending now and the ones frankly who are doing a better job at lending are the smaller institutions that have the higher capital requirements. We can raise capital requirements by 200 to 300 basis points within a very short time period and I think in terms of impacting lending, I don't think that's going to be there.

She then said that even though smaller banks reduced their lending in Q1, that was not really connected to higher capital benchmarks, it was more to do with borrowers being over-leveraged, which reduced demand.

Bair also commented on how angry she was with mortgage servicers, which obviously includes JP Morgan (one of the banks banned temporarily from earning fees through a federal foreclosure program until it makes "substantial improvements.")

"We need to do something dramatic" about the mortgage and foreclosure issue she said, according to Dow Jones. "I am quite angry at the servicers."

The one area where Bair shared a consensus with Dimon was over new derivatives regulations, according to Fortune, and the expense and risk to businesses here associated with building that regulatory framework.